Defence and security company Saab's acquisition of the Swedish shipyard
Thyssen Krupp Marine Systems AB (TKMS AB formerly Kockums) has now been
completed. The acquisition strengthens Saab's position as a comprehensive
supplier of naval military systems.

Kockums A26. A26 was the project of the next generation of submarines
developed by Kockums for the Swedish Navy.
(Picture: Kockums)

The required decisions and approvals for Saab's acquisition of Thyssen
Krupp Marine Systems AB (TKMS AB) have now been granted. The company
will become a business unit within Saab's business area Security and
Defence Solutions. The business unit is named Saab Kockums. Saab expects
that operations will continue to be carried out primarily in Malmö,
Karlskrona and Muskö.

In June, Saab and FMV signed a Letter of Intent regarding the Swedish
armed forces’ underwater capabilities. With the acquisition of
TKMS AB, Saab, together with the Swedish authority, is able to ensure
access to the existing knowledge and intellectual properties (IPR) necessary
for continued development, production and maintenance in the underwater
sector for both the Swedish and the international markets.

"The acquisition is in line with our strategy to expand our offering
and strengthen Saab's position in the market for naval systems. Kockums
has a unique offering and a strong local presence in Sweden concerning
submarines and warships. The acquisition makes us a complete supplier
of naval military systems. We also see good potential to expand the
company's current market position through opportunities in the export
market," says Håkan Buskhe, President and CEO of Saab.

"We are now beginning the integration of Kockums with Saab, focusing
on reaching full capacity and we are starting work immediately with
the orders placed by Sweden as well as deliveries to other existing
customers. This will be followed by efforts to increase operational
efficiency and profitability. This is key in order to be globally competitive
in the long term. There are also good synergies to achieve with Saab's
current naval operations," says Gunilla Fransson, head of Saab’s
business area Security and Defence Solutions.